Thrivent Financial for Lutherans Has $2.23 Million Holdings in Universal Display Corporation $OLED

Thrivent Financial for Lutherans decreased its stake in Universal Display Corporation (NASDAQ:OLED) by 32.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,447 shares of the semiconductor company’s stock after selling 7,036 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Universal Display were worth $2,231,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Primecap Management Co. CA lifted its holdings in shares of Universal Display by 20.7% during the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock valued at $342,176,000 after acquiring an additional 379,586 shares during the period. Norges Bank acquired a new stake in shares of Universal Display during the 2nd quarter worth about $124,480,000. First Trust Advisors LP lifted its holdings in Universal Display by 14.9% during the 2nd quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock valued at $108,031,000 after purchasing an additional 90,766 shares during the last quarter. Greenhouse Funds LLLP lifted its holdings in Universal Display by 14.4% during the 2nd quarter. Greenhouse Funds LLLP now owns 644,146 shares of the semiconductor company’s stock valued at $99,495,000 after purchasing an additional 81,025 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Universal Display by 63.2% in the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock valued at $88,685,000 after buying an additional 222,327 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OLED. Zacks Research lowered shares of Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Universal Display in a report on Wednesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Universal Display in a research report on Monday. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.33.

Universal Display Trading Down 0.4%

Shares of NASDAQ OLED opened at $118.48 on Wednesday. The firm has a market capitalization of $5.63 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.65 and a beta of 1.62. Universal Display Corporation has a 1 year low of $103.70 and a 1 year high of $164.29. The firm’s 50-day moving average is $127.82 and its 200-day moving average is $140.23.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). Universal Display had a return on equity of 14.10% and a net margin of 34.65%.The business had revenue of $139.61 million for the quarter, compared to the consensus estimate of $165.56 million. During the same period last year, the firm earned $1.40 earnings per share. The company’s quarterly revenue was down 13.6% on a year-over-year basis. As a group, equities research analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.5%. Universal Display’s dividend payout ratio (DPR) is 38.79%.

Universal Display Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.